Budget 2004
Personal Taxation
Personal Allowances
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* Relief is restricted to 10%
† Part or the full amount of the allowance may be transferred to the wife
‡ Applies only where at least one spouse was born pre 6 April 1935
§ Personal allowance for age 65 and over reduced by £1 for every £2 income in excess of limit until basic personal allowance of £4,745 (£4,615 2003/2004) is reached.
¶ Married couple’s allowance reduced by £1 for every £2 income in excess of limit until minimum allowance of £2,210 (£2,150 2003/2004) is reached
The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.
This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.
